Four of the mid-market’s most exciting oil exploration stories brought investors flocking to London’s Mayfair Hotel on Thursday evening for the Proactive Investors Annual Hyrdrocarbon Forum.
More than 200 people jostled for seats in the Danzinger Suite, with late-comers finding it was a case of standing room only.
The professionals rubbed shoulders with a very savvy bunch of private investors, who travelled from Scotland, the north of England and Ireland to attend.
Creating the excitement were Argos Resources(LON:ARG), Caza Oil & Gas (LON:CAZA), Petroceltic (LON:PCI) and Western Zagros (CVE:WZR).
Each had a compelling story to tell: for Argos it was about progress in the waters off the Falkland Islands.
And it was timely that its presentation came on the dayPremier Oil (LON:PMO) and Rockhopper Exploration (LON:RKH) revealed the huge potential of the Sea Lion Field, which is next door to Argos’ acreage.
For Caza, the opportunity is also huge one – though it is onshore and in a different hemisphere.
It has access to US$50mln, giving it a clear mandate and the financial clout to fully exploit New Mexico’s emerging Bone Springs play. And as chief executive Mike Ford revealed, it is a major opportunity.
In Petroceltic and WesterZagros, we had two explorers with acreage in Kurdistan, one of the last remaining great oil frontiers.
While former prepares to test its acreage in the semi-autonomous region of northern Iraq, the latter is a developing a world-class asset.
The view from the floor of the Danziger Suite was a positive.
One of our regular attendees, an oil industry commentator, told Proactive: “The roster of the guests surpasses what I have seen elsewhere.
“I have been coming to these events now since the first started more than six months ago and this is by far the biggest event of its kind beyond those organised by the big merchant banks.”
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